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Step 7 - Annual Corporate Records
Frequently Asked Questions
- Q: What is annual corporate records maintenance?
- A: Annual corporate records maintenance consists of:
- an annual report filing with the Corporate Registrar; and
- written resolutions of the company's directors and shareholders to conduct the business required on an annual basis under the Business Corporations Act.
- Q: What is included in the Snap Incorporations Corporate Records Management Service?
- A: The Snap Incorporations Corporate Records Management Service includes the following services:
- Preparation and filing of the Company's annual report
- Preparation and emailing of directors’ resolutions for approval and electronic signature by the Company's directors to comply with the Business Corporations Act; and
- Preparation and emailing of shareholders’ resolutions for approval and electronic signature by the Company's shareholders to comply with the Business Corporations Act.
- Q: What are the fees for the Snap Incorporations Corporate Records Management Service?
- A: Our office will send you an invoice for our Snap Incorporations Corporate Records Management Service on or around each anniversary of the company's incorporation date. Please refer to the Pricing page on our website for a list of our fees. Once we are in receipt of payment of our account, we will complete the Corporate Records Management Service for your company.
- Q: What is an annual report?
- A: Every company must file an annual report with the Corporate Registrar reporting on the directors and officers of the Company. This annual report must be filed on a yearly basis within two months after the anniversary date of the incorporation of the company. An annual report must also be filed in every jurisdiction where the company is registered, with the exception of British Columbia, Alberta, Saskatchewan and Manitoba companies registered under the New West Partnership Trade Agreement. Failure to file an annual report with the Corporate Registrar for two years will result in the Corporate Registrar commencing dissolution proceedings and then eventually dissolving the company.
- Q: What happens if my company’s annual report is not filed?
- A: Failure to complete and file the annual report could lead to your company being dissolved and no longer able to carry on business in that jurisdiction.